Citi extends $45.5 million line of credit for Orosí wind farm

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August 7th, 2014 (InsideCostaRica.com) Citigroup has issued a $45.5 million line of credit for the purchase and import of 25 wind turbines for the Orosí wind farm, located in the area of Quebrada Grande near Liberia, Guanacaste.

 

The new turbines are expected to generate an additional 50 MW of power.

 

The line of credit was provided to project developer, Globeleq Mesoamérica Energy (GME).  The turbines will be purchased from Spanish firm, Gamesa.

 

Citi structured and issued the line of credit in conjunction with the Export-Import Bank of the United States.

 

The turbines are expected to be installed no later than March of next year.

 

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  • expatin paradise

    We need many more projects like this, especially with the river levels too low for the hydroelectric generators to function. Assuming that the operators are not ripped off on the equipment, this is a sure thing for making a profit and will provide much-needed relief to our power grid. Lenders like Citibank would be foolish not to fund such projects.

    • Upset with goverment of CR

      How much money did Citi get during the TARP bailout. Didñ´t Citi Bank just layoff 8000 staff in the USA. Funny how they can find the money to help CR. I guess workers really don´t matter just profits and control over the poor and middle class. Prince of Saudi is a major share holder of Citi Bank and he also owns hotel property in CR.

      • expatin paradise

        Citi isn’t helping anyone but themselves. They stand to profit from this, as they do from all their investments, and they did from the bailout of the banking collapse they helped to create. .

        I agree with you that solar farms should also be considered here, especially as the costs of panels have come down considerably and efficiency has improved (they now generate very well on cloudy days). I would think that they would do especially well in Guanacaste. I would think that someone should also be able to take advantage of the shade that is created beneath the panels for horticulture, but haven’t heard of any such projects.

  • Upset with goverment of CR

    I guess Solar is never thought of anymore. Lots of Sun in CR